AltLenForum

Pawnee Leasing Corporation Relocation

By AltLendForum / 7 years ago

Fort Collins, CO, June 13, 2016 – Pawnee Leasing Corporation announced that it completed its business relocation to 3801 Automation Way in Fort Collins, Colorado. “After 12 years at Centre Avenue, Pawnee Leasing Corporation moved on June 10. Our stand alone facility has been a fantastic home for Pawnee, but we finally ran out of […]

How to Use Factoring for Cash Flow

Factoring

By AltLendForum / 7 years ago

Companies facing a cash-flow squeeze and slow-paying customers often sell their invoices or accounts receivable to specialized companies called factors. The factor advances most of the invoice amount — usually 70% to 90% — after checking out the credit-worthiness of the billed customer. When the bill is paid, the factor remits the balance, minus a […]

Daniel S. Henson Joins OnDeck Board of Directors

Working Capital

By AltLendForum / 7 years ago

NEW YORK, June 6, 2016 /PRNewswire/ — OnDeck® (ONDK), the leader in online lending for small business, announced today that Daniel S. Henson was elected to its Board of Directors effective June 2, 2016. Mr. Henson brings nearly 30 years of experience from General Electric Company (GE), where he held a variety of senior positions […]

Understanding Pricing’s Role in Developing Healthy Online Small Business Loan Growth

Working Capital

By AltLendForum / 7 years ago

Market Update There is no doubt that the on-line small business loan marketplace has achieved impressive growth and significant staying power in 2015. There has been much written about the $100 billion+ potential market opportunity born of the banking industry’s multi-year freeze out of the small business borrower. What is noteworthy in the following numbers […]

Factoring volumes grow despite global slowdown

Factoring

By AltLendForum / 7 years ago

Global factoring volumes have reached a record €2.37tn in 2015, but the modest growth of 1.4% from the previous year points to growth imbalances across different regions. While domestic factoring remains dominant over international factoring, counting for 78% of the total, cross-border factoring increased by 8%, and is expected to keep driving factoring growth in […]

BusinessCash Expands Merchant Cash Advance Consolidation Program

Working Capital

By AltLendForum / 7 years ago

FT. LAUDERDALE, FL–(Marketwired – May 31, 2016) – BusinessCash announces an expansion of their merchant cash advance or ACH loans consolidation program. The online small business loan market has been experiencing turmoil with CEO of LendingClub resigning over faulty loans and publicly traded stocks of many online lenders tumbling over 70% from their IPO pricing. […]

LendingClub Jumps After Citi Said to Be in Talks to Buy Loans

FinTech

By AltLendForum / 7 years ago

LendingClub Corp. climbed the most in more than a year after the company was said to be in talks with Citigroup Inc. to have the bank purchase more debt generated through the online lending marketplace. Shares of LendingClub jumped as much a 17 percent in New York, the most intraday since December 2014. The stock […]

Banks Said to Draw Plans for Cutting Back Online Lending Risk

FinTech

By AltLendForum / 7 years ago

Some of Wall Street’s biggest banks are making contingency plans to cut their exposure to online consumer loans if the market deteriorates further after the recent crisis at LendingClub Corp., people with knowledge of the reviews said. While firms including Credit Suisse Group AG and Deutsche Bank AG haven’t scaled back exposure, they’re concerned about […]

Wells Fargo Names Canada Leaders for Equipment Finance and Commercial Distribution Finance

Equipment Leasing

By AltLendForum / 7 years ago

TORONTO–(BUSINESS WIRE)–Wells Fargo & Company (NYSE:WFC) has named leaders for its Equipment Finance and Commercial Distribution Finance (CDF) Canada divisions following the completed acquisition of GE Capital’s Direct, Vendor and CDF businesses earlier this year. Continuing to deliver the suite of products and services offered in Canada and the U.S, Peter Ringler will lead Equipment […]

New York financial regulator gearing up to probe online lenders – source

FinTech

By AltLendForum / 7 years ago

New York state’s financial regulator, which recently launched a probe into LendingClub Corp, is preparing to look into the activities at other online lenders and whether they should be licensed in New York, a person familiar with the matter said on Wednesday. The New York Department of Financial Services (NYDFS) has not yet established which […]